|Accounting tract the assets, liabilities, owners equity, revenue and expenses of an organization. It provides not only current operating information for management but also track the historical transactions of the entity. It encompases not only cash earned by the organization but also the investment activities, financing activities, lending activities, non-cash charges and recognition of and expiation of the useful life of assets used in the operating of the entity. It also encompasses intangible recording and recognition of items that may have a value yet are not specific in nature such as organizational cost, patents, copyrights and trademarks. I will reflect monies owed, accruals of interest on those monies and also the amounts of excess over operating expenditures that have not been distributed. It is the basis of calculating taxes owed and due as well as a parameter as to the health of the entity and is essential for owners and managers in calculating and projecting operational problems, budgets and compensation. With out accounting no entity could survive. It is the essential information needed to not only run but also perpetuate a continued enterprise. Accounting refers to the process of bookkeeping that are involved in making the financial records of business transactions. These Bookkeeping methods are also used in preparation of statements concerning the assets, liabilities and operating results of a company. It is a very important process in an organization. The information derived from the accounting processes gives complete financial information about the company and conveys its financial standing to the owners and employees of the company. It also shows which products or assets of the company are most profitable and those which are weak. Day to day bookkeeping on the accounting principles, helps in keeping record of daily transactions and also helps in preventing any frauds.
discuss brifly various types of accounting packages along with their functions
The variation in accounting disclosure and reporting practices.
what are the various classification of cost accounting?
Cost accounting involves collecting, analyzing and summarizing various courses of action. Then, accounting advises the management on what to do.
Accounting is often called the language of business. The basic function of any lan-guage is to serve as a means of communication. In this context, the purpose of ac-counting is to communicate or report the results of business operations and its various aspects. Though accounting has been defined in various ways. According to one commonly accepted definition. "Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money, transactions and events which are; in part at least, of financial character and interpreting the results thereof'. Another definition which is less restrictive interprets accounting as "The process of identifying, measuring and communicating economic information to permit informed judgements and decisions by the users of information
discuss brifly various types of accounting packages along with their functions
The variation in accounting disclosure and reporting practices.
Discuss the various methods of inflation accounting.
what are the various classification of cost accounting?
explain detail of the E-Commerce and importance of factors
what are the various classification of cost accounting?
list of various process of accounting information system
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"Accounting Standards" are what governs various ethical and legal aspects of accounting. It does not "stand" for anything.
Cost accounting involves collecting, analyzing and summarizing various courses of action. Then, accounting advises the management on what to do.
enumerate and define the fields of accounting and the sub category
Prefixation is the process of adding a morpheme at the beginning of a word to change its meaning. There are various types of prefixes, such as negation (e.g., "un-" in "unhappy"), time or order (e.g., "pre-" in "preview"), location or direction (e.g., "re-" in "return"), and intensity or degree (e.g., "super-" in "superior"). Each type of prefix alters the meaning of the base word in a specific way.